Question

In cash book with discount column, total of discount column of credit side of the cash book is posted to the________.

• A. Dr. of Discount Allowed A/c
• B. Dr. of Discount Received A/c
• C. Cr. of Discount Allowed A/c
• D. Cr. of Discount Received A/c

Answer 1

The correct option is D Cr. of Discount Received A/c

One more type of cash book is triple column cash book. Three columns are cash, bank and discount column where cash discount allowed and cash discount received are recorded in discount column.

Total of cash discount received is to be posted to the credit of discount received account.